The field of cryptocurrencies is always expanding. While Bitcoin is widely seen as a pioneer in the world of cryptocurrencies, analysts adopt many approaches for evaluating tokens other than BTC. It’s common, for instance, for analysts to attribute a great deal of importance to ranking coins relative to one another in terms of market capitalization. This article lists the top 10 cryptocurrencies in terms of market capitalization.
Market cap: US$1,141,304,031,951
Bitcoin’s invention in 2009 changed money forever and opened the door to all sorts of variations on and improvements of its technology. It’s tough to understate the importance of Bitcoin and the underlying concept of the blockchain that accompanied it, but 12 years later, Bitcoin’s first-mover advantage has compounded to put its market capitalization above US$1 trillion. As the premier “blue chip” cryptocurrency, BTC is not only tried and true but is still setting new milestones: Tesla Inc.’s decision to put Bitcoin on its balance sheet and El Salvador’s move to make it a legal tender are two landmark 2021 actions illustrating how mainstream BTC has become.
Market cap: US$492,832,505,619
Although Bitcoin has been the lead crypto from the get-go, Ethereum emerged as a force to be reckoned with in 2015 and is perhaps the only other token with any business being regarded as blue-chip crypto. Ethereum’s market share in the nascent and fast-growing field of decentralized finance, or Defi, has the digital currency slowly